Dec 10 CME live cattle and hog futures are
expected to open steady to weak on Monday, weighed by lower
prices for cattle and hogs in the cash markets late on Friday.
* Traders also cited livestock market caution as the United
States and Russia settle a dispute over the use of the feed
additive ractopamine in the U.S. production of pork and beef.
* Cattle and hog futures have other bearish fundamentals to
cope with, and the Russian situation might give some people
another reason to sell, a trader said.
LIVE CATTLE - Seen steady to down 0.500 cent per lb.
* Cash cattle in Kansas and Nebraska on Friday moved at $124
per cwt, down $1 from the week before. Feedlots in Texas also
sold cattle at $124, compared with $126 to $128 a week ago.
* Packers continued to cut slaughter rates and cash bids to
improve their poor and stabilize fallen wholesale beef prices.
FEEDER CATTLE - Called steady to up 0.300 cent per lb.
* Futures may draw support from lower corn prices, reducing
feed input costs.
LEAN HOGS - Seen steady to 0.400 cent per lb lower.
* Packers lowered bids for cash hogs to recoup lost margins
and as wholesale pork prices weakened.
* Hog supplies have outpaced demand for animals, an analyst
said. The slowdown in retail demand for pork reflects ham
business winding down for the winter holidays, he said.
* Inclement winter weather in Minnesota over the weekend may
briefly impede the shipment of hogs to packing plants, the
(Reporting by Theopolis Waters in Chicago)